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Possible Bearish Inside Day Candle Pattern Detected for Gnc Holdings Inc (NYSE:GNC)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Gnc Holdings Inc (NYSE:GNC) based on the price action in the company's shares. Yesterday's price range of $0.60 and $0.73 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Gnc Holdings Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

GNC Holdings, Inc. operates a chain of health and wellness stores worldwide. The Company retails health and wellness products including vitamins, minerals, and herbal supplements (""VMHS""), as well as sports nutrition and diet.

In the past 52 weeks, shares of Gnc Holdings Inc have traded between a low of $0.38 and a high of $3.42 and closed yesterday at $0.59, which is 55% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 9.3% while the 200-day MA has slid 0.8%.

Gnc Holdings Inc has overhead space with shares priced $0.59, or 78.5% below the average consensus analyst price target of $2.75. The stock should find initial resistance at its 50-day moving average (MA) of $0.94 and further resistance at its 200-day MA of $2.00.

SmarTrend is tracking the current trend status for Gnc Holdings Inc and will alert subscribers who have GNC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle gnc holdings inc

Ticker(s): GNC